Civic Intelligence

Lowell Makes Inc

990 • Fiscal year 2023 • EIN 46-2789844

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileWWW.LOWELLMAKES.COM
130 Western AveLowell, MA 01851

(978) 251-4554

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.80x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

4.26x

Higher debt load relative to revenue than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

69th percentile

15%

Higher net margin than 69% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

38th percentile

0.5%

Faster asset growth than 38% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

33rd percentile

-3.1%

Faster revenue growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$2,109,820

Up $10,665 (+0.5%) from 2022

Net Assets

Up

$426,025

Up $61,116 (+17%) from 2022

Liabilities

Down

$1,683,795

Down $50,451 (-2.9%) from 2022

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin69th percentile

Revenue

Down

$395,241

Down $12,753 (-3.1%) from 2022

Expenses

Down

$334,125

Down $12,636 (-3.6%) from 2022

Net Income

Down

$61,116

Down $117 (-0.2%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2013: $19,218Liabilities 2013: $28,5502013Assets 2014: $10,195Liabilities 2014: $32,7862014Assets 2016: $52,105Liabilities 2016: $52,102Net Assets 2016: $02016Assets 2017: $158,998Liabilities 2017: $38,231Net Assets 2017: $120,7672017Assets 2018: $77,799Liabilities 2018: $41,0492018Assets 2019: $89,970Liabilities 2019: $25,3812019Assets 2020: $1,899,109Liabilities 2020: $1,723,904Net Assets 2020: $175,2052020Assets 2021: $2,073,289Liabilities 2021: $1,769,613Net Assets 2021: $303,6762021Assets 2022: $2,099,155Liabilities 2022: $1,734,246Net Assets 2022: $364,9092022Assets 2023: $2,109,820Liabilities 2023: $1,683,795Net Assets 2023: $426,0252023Assets 2024: $2,059,016Liabilities 2024: $1,610,766Net Assets 2024: $448,2502024

Highlighted filing

2023

Assets$2,109,820
Liabilities$1,683,795
Net Assets$426,025
Open 2023 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2013: $8,202Expenses 2013: $17,534Net Income 2013: -$9,3322013Revenue 2014: $59,154Expenses 2014: $75,613Net Income 2014: -$16,4592014Revenue 2016: $227,153Expenses 2016: $189,373Net Income 2016: $37,7802016Revenue 2017: $135,789Expenses 2017: $166,270Net Income 2017: -$30,4812017Revenue 2018: $138,839Expenses 2018: $135,968Net Income 2018: $2,8712018Revenue 2019: $136,031Expenses 2019: $108,192Net Income 2019: $27,8392019Revenue 2020: $347,398Expenses 2020: $240,649Net Income 2020: $106,7492020Revenue 2021: $507,546Expenses 2021: $379,075Net Income 2021: $128,4712021Revenue 2022: $407,994Expenses 2022: $346,761Net Income 2022: $61,2332022Revenue 2023: $395,241Expenses 2023: $334,125Net Income 2023: $61,1162023Revenue 2024: $378,853Expenses 2024: $379,405Net Income 2024: -$5522024

Highlighted filing

2023

Revenue$395,241
Expenses$334,125
Net Income$61,116
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$422,878
Mission and Program Overview

Mission

Lowell makes is a collection of open workshops and laboratories where members and students can collaborate to learn, share, and hone crafts of all kinds. The focus is on providing a space for education, entrepreneurship, and engagement with the community of lowell, massachusetts.

Lowell makes is a collection of open workshops and laboratories where members and students can collaborate to learn, share, and hone crafts of all kinds. The focus is on providing a space for education, entrepreneurship, and engagement with the community of lowell, ma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,984,499$1,950,338▼ $34,161
Cash and Non-Interest-Bearing Accounts$65,156$113,249▲ $48,093
Savings and Temporary Cash Investments$48,520$45,275▼ $3,245
Total Assets$2,099,155$2,109,820▲ $10,665
Other Assets Total$980$958▼ $22
Liabilities
Tax Exempt Bond Liabilities$1,124,166$1,086,476▼ $37,690
Mortgage Notes Payable Secured by Investment Property$533,801$512,702▼ $21,099
Deferred Revenue$45,850$54,236▲ $8,386
Accounts Payable and Accrued Expenses$11,394$22,776▲ $11,382
Other Liabilities$19,035$7,605▼ $11,430
Total Liabilities$1,734,246$1,683,795▼ $50,451
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$364,909$426,025▲ $61,116
Total Net Assets Fund Balance$364,909$426,025▲ $61,116
Total Liabilities and Net Assets / Fund Balance$2,099,155$2,109,820▲ $10,665

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,594,811$157,610$1,752,421
Other Land Buildings$277,390$22,159$299,549
Equipment$78,137$84,750$162,887
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Samantha BurdettPast President
Rio SabellaPresident
Eric SackDirector
Jack WalshDirector
James SaundersDirector
Mark PalermoDirector
Christy MatteSecretary
John NotoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$292,554
Program Service Revenue
$44,942
Investment Income
$3
Other Revenue
$57,742
All Other Contributions
$61,528
Change in Net Assets
$61,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$88,908--$88,908
Depreciation Depletion$51,619--$51,619
Interest$50,015--$50,015
Fees for Services Accounting-$26,523-$26,523
Office Expenses$12,695$10,675-$23,370
Insurance$15,047--$15,047
Fees for Services Other$14,886--$14,886
Other Expenses$22,558$5,310-$5,310
Advertising$4,769--$4,769
Fees for Services Legal-$3,473-$3,473
Total Functional Expenses$288,144$45,981$0$334,125
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$7,605

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2020-05-14$1,181,466TO PURCHASE BUILDING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$1,181,466-$96,129-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to the president and treasurer for review, comments, and approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy outlines procedures for handling conflicts of interest and requires that each director and management employee annually complete a conflict of interest statement. Any potential conflicts of interest are discussed at board meetings.”

Form 990, Part VI, Section C, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Lowell Makes Inc
EIN
46-2789844
Phone
9782514554
Address
130 WESTERN AVE, LOWELL, MA 01851

Signing Officer

Name
John Noto
Title
Treasurer
Phone
9782514554
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rio Sabella
Formed
2013
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
150

Preparer

Firm
Cbiz Advisors LLC
Address
53 STATE STREET, BOSTON, MA 02109
Preparer
Douglas Farrington
Phone
6178075000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The following is an excerpt from note two of the financial statements: the organization has been recognized by the internal revenue service (irs) as exempt from federal income taxes under internal revenue code (irc) section 501(a) as an organization described as irc section 501(c)(3), qualifies for charitable contribution deductions, and has been determined not to be a private foundation. The organization is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the organization is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The organization accounts for uncertain tax provisions under financial accounting standards board (fasb) accounting standards codification (asc) 740, income taxes, which provides a framework for how entities should recognize, measure, present, and disclose uncertain tax positions in their financial statements. The organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Management has reviewed the organization's reporting and believes they have not taken tax positions that are more likely than not to be determined to be incorrect by the irs and, therefore, no adjustments or disclosures are required. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods pending or in progress.”

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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0239357
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07
IRS990/PYOtherExpensesAmt0309454
IRS990/PYOtherRevenueAmt045153
IRS990/PYProgramServiceRevenueAmt0123477
IRS990/PYRevenuesLessExpensesAmt061233
IRS990/PYSalariesCompEmpBnftPaidAmt037307
IRS990/PYTotalExpensesAmt0346761
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0407994
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt061116
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt04852
IRS990/RentalIncomeOrLossGrp/RealAmt042473
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt044945
IRS990/SavingsAndTempCashInvstGrp/BOYAmt048520
IRS990/SavingsAndTempCashInvstGrp/EOYAmt045275
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME - 2019 AMOUNT: $ 6,872. 2020 AMOUNT: $ 111. 2021 AMOUNT: $ 865. 2022 AMOUNT: $ 1,631. 2023 AMOUNT: $ 6,908.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0292554
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0239357
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0281233
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0233493
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt086130
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01132767
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt036877
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt036643
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt087635
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt055884
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0217039
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt051794
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0128732
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0128503
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt074210
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt043029
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0426268
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt071622
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt066394
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0116561
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt073627
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0328204
IRS990ScheduleA/InvestmentIncomeCYPct00.17240
IRS990ScheduleA/InvestmentIncomePYPct00.15840
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt06908
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt01631
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0865
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0111
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt06872
IRS990ScheduleA/OtherIncome509Grp/TotalAmt016387
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearAmt034745
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus1YearAmt029751
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus2YearsAmt028926
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus3YearsAmt017743
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt0111165
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.78660
IRS990ScheduleA/PublicSupportPY509Pct00.79760
IRS990ScheduleA/PublicSupportTotal509Amt01497348
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt061687
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt061687
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt061687
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt061687
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0344348
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0368089
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0409736
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0307703
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0129159
IRS990ScheduleA/Total509Grp/TotalAmt01559035
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0422878
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0436114
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0527162
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0381441
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0136031
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01903626
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01594811
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0157610
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01752421
IRS990ScheduleD/EquipmentGrp/BookValueAmt078137
IRS990ScheduleD/EquipmentGrp/DepreciationAmt084750
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0162887
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0277390
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt022159
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0299549
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07605
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING IS AN EXCERPT FROM NOTE TWO OF THE FINANCIAL STATEMENTS: THE ORGANIZATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED AS IRC SECTION 501(C)(3), QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS, AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION. THE ORGANIZATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ORGANIZATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX PROVISIONS UNDER FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES, WHICH PROVIDES A FRAMEWORK FOR HOW ENTITIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS REVIEWED THE ORGANIZATION'S REPORTING AND BELIEVES THEY HAVE NOT TAKEN TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO BE DETERMINED TO BE INCORRECT BY THE IRS AND, THEREFORE, NO ADJUSTMENTS OR DISCLOSURES ARE REQUIRED. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01950338
IRS990ScheduleD/TotalLiabilityAmt07605
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02020-05-14
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0043431814
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt01181466
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0TO PURCHASE BUILDING
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct00.21940
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct00.21940
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt01181466
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt096129
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02020
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt01181466
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE PRESIDENT AND TREASURER FOR REVIEW, COMMENTS, AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY OUTLINES PROCEDURES FOR HANDLING CONFLICTS OF INTEREST AND REQUIRES THAT EACH DIRECTOR AND MANAGEMENT EMPLOYEE ANNUALLY COMPLETE A CONFLICT OF INTEREST STATEMENT. ANY POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,109,820
Liabilities
$1,683,795
Net assets
$426,025
Revenue
$395,241
Expenses
$334,125
Net income
$61,116
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.06$1.61$0.45$0.38$0.38$0.00
2023Detailed filing. Detailed filing data is available for this year.$2.11$1.68$0.43$0.40$0.33$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.10$1.73$0.36$0.41$0.35$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.07$1.77$0.30$0.51$0.38$0.13
2020Detailed filing. Detailed filing data is available for this year.$1.90$1.72$0.18$0.35$0.24$0.11
2019Summary only. Only limited summary data is available for this year.$0.09$0.03$0.14$0.11$0.03
2018Summary only. Only limited summary data is available for this year.$0.08$0.04$0.14$0.14$0.00
2017Summary only. Only limited summary data is available for this year.$0.16$0.04$0.12$0.14$0.17$0.03
2016Summary only. Only limited summary data is available for this year.$0.05$0.05$0.00$0.23$0.19$0.04
2014Summary only. Only limited summary data is available for this year.$0.01$0.03$0.06$0.08$0.02
2013Summary only. Only limited summary data is available for this year.$0.02$0.03$0.01$0.02$0.01